The Qingdao Area of China (Shandong) Pilot Free Trade Zone signed 48 key projects worth 50.3 billion yuan ($7.8 billion) during a conference on June 17 to promote opening-up and cooperation.

Forty-eight projects are signed in the Qingdao Area of China (Shandong) Pilot Free Trade Zone during a conference to promote opening-up and cooperation on June 17. [Photo/dzwww.com]

The contracted projects, covering modern ocean, international trade, shipping logistics, modern finance and advanced manufacturing, will contribute to the city's efforts in boosting opening-up and high-quality development.

Among them, 10 are foreign-funded. These projects will receive $103 million in investments within the year and generate 40.8 billion yuan in foreign trade.

The Qianwan Port Container Intelligent Air-rail Collection and Distribution System Project, the first of its kind in the world, will integrate the air-rail technology with the terminal container business for the first time. It will realize the seamless linkage of port, land and railway intermodal transportation.

Qingdao Port, Shandong province [Photo/IC]

Six platforms, including the China Bulk Commodity Shipping Logistics and Procurement Base, the International Seamen Center and the International Ship Supply Center, were inaugurated during the conference.

Qingdao FTZ also signed cooperation agreements with Incheon Free Economic Zone, South Korea, Germany Dortmund High-tech Industrial Park, Hong Kong Trade Development Council, Guangzhou Nansha Free Trade Zone and other organizations to foster a development system of regional linkage, industrial interflow and resource sharing.